Investors jostle for UBA ahead of interim dividend

Investors jostle for UBA ahead of interim dividend

United Bank for Africa (UBA) Plc has been the toast of the stock market in the past four weeks as investors sought to take positions ahead of the impending release of the audited half-year results and interim dividend of the commercial banking group.

UBA was the most active stock last week with a turnover of 332.72 million shares valued at N2.68 billion in 978 deals, representing 34 per cent and 26.15 per cent of the total turnover volume and value traded respectively at the Nigerian Stock Exchange (NSE). It has featured consistently in the past four consecutive weeks within the two most active stocks at the equities market. Put your business on the map with Waze. Plans
start as low as $2/day Ad It’s easy, just add your logo and put your business on the … Waze Local Learn more UBA is expected to release its audited report and accounts for the first half ended June 30, 2018 this week. Most analysts expect the bank to sustain its tradition of interim dividend payment based on the first half report.

Under the rules at the NSE, where a company chooses to audit its quarterly accounts, it shall be required to file such accounts not later than 60 calendar days after the relevant quarter. Generally, quoted companies are required to file their unaudited quarterly accounts with the NSE not later than 30 calendar days after the relevant quarter, and publish it within five business days after the date of filing, in at least two national daily newspapers, and post it on the company’s website, with the web address disclosed in the newspaper publication. Also, an electronic copy of the publication shall be filed with the Exchange on the same day as the newspaper publication.

A source at the UBA said the commercial banking group will submit its report within the August 29, 2018 deadline for audited half-year results for the period ending June 30, 2018.

UBA had paid a total dividend per share of 85 kobo for the 2017 business year, consisting of a final dividend per share of 65 kobo in addition to interim dividend of 20 kobo earlier paid after the first-half results. The total payout for 2017 represented a 13 per cent growth on a dividend per share of 75 kobo paid for the 2016 financial year. Start your free trial. Ad Stand out with a professional website, portfolio, or online … […]

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